The prices in real estate in Manila, in the Metro Manila region have had a minor fall in the last couple of months. The real estate prices for second hand homes have fallen in this city
The price per m² in Manila has fallen in the last 6 months. In December, the average price per m² was ₱ 118,174. In the following month the price per m² decreased considerably to ₱ 99,939. The price for the following two months in (February, March) decreased 87 % with regard to the prior two months. The price per m² has increased 113 % in the last two months compared to the average price for the previous four months. This was obtained by comparing the first four months of the period going from a price per m² of ₱ 101,984.25 to ₱ 115,517 during April, and May.
Based upon to the price in Manila (cities), this has fallen considerably in the last 6 months. The average price during our first sample month during December, is ₱ 10,499,249. During January the price went through a considerable rise reaching ₱ 12,084,438. During the following two months (February, March) the average price had a considerable reduction of 82 % with regard to the previous two months. During the last two months the average price has had a strong fall compared to the previous four going from ₱ 10,249,282 to ₱ 5,731,653.5, which means a 56 % fall.
The graph displaying the average price for bedrooms illustrates that those properties with 1 bedroom are the cheapest ones. At a price of ₱ 5,888,310 they are 36 % more affordable than the average price for Manila. The properties with the highest average price have 4 bedrooms, Their price is 190 % more costly than the average. After that we have properties with 3 bedrooms priced at ₱ 10,926,891.
With regard to the average price per m² , those properties with 3 bedrooms are the cheapest ones at a cost of ₱ 93,015 / m², with an average ₱ 105,020 / m² price in Manila. The properties with the highest average prices have 1 bedroom. They are 15 % more expensive than the average followed by properties with 2 bedrooms with a price at ₱ 117,576 / m².
The graph displaying the average prices displays the property type "Apartment" as the most affordable one. At an cost of ₱ 5,888,310 it is 34 % cheaper than the average price in Manila. "Condominium" is seen as the second most affordable property type. The dearest property type is "Commercial Lot" followed by "Townhouse". At a price of ₱ 15,439,884 it is 1021 % more expensive than the average price.
According to the average cost per m², the cheapest property type is "House And Lot" at an average cost of ₱ 44,214 / m² followed by "House" priced at ₱ 68,985 / m². "Condominium" is the most costly type of property with a ₱ 143,974 / m² cost followed by "Commercial Lot" with an average price of ₱ 134,466 / m².